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The Nature of ValueHow to Invest in the Adaptive Economy$
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Nick Gogerty

Print publication date: 2014

Print ISBN-13: 9780231162449

Published to Columbia Scholarship Online: November 2015

DOI: 10.7312/columbia/9780231162449.001.0001

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How Innovative Capabilities Enable Value Creation

How Innovative Capabilities Enable Value Creation

Chapter:
(p.71) Chapter Five How Innovative Capabilities Enable Value Creation
Source:
The Nature of Value
Author(s):

Nick Gogerty

Publisher:
Columbia University Press
DOI:10.7312/columbia/9780231162449.003.0005

This chapter argues that uniquely advantageous capabilities, such as a cheaper distribution system or unique product performance, give a value-capturing edge versus the competition. Investors can better understand a firm's potential for value creation by charting their unique capabilities. The more unique, value-creating capabilities a firm has, the higher and more sustainable the margins are likely to be. The chapter also identifies the ten categories of business innovation capabilities: business model innovation, networking innovation, enabling process, core process, product performance, product system, service, channel, brand, and customer experience. It then discusses experience curve effects, which deliver increasing value-delivery efficiency using accumulated knowledge that is associated with adaptive cycles.

Keywords:   ino, innovation, value, accumulated knowledge, organizational capabilities, experience curve effects, capital allocation

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